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SBI General Insurance Company Limited

Updated on November 27, 2022 , 28695 views

Ventured in the year 2010, SBI is expected to become a large player in the general insurance Market! SBI General insurance Company Limited is a joint venture between the State Bank of India and Insurance Australia Group (IAG). SBI owns 74 percent of the total Capital and IAG holds 26 percent.

SBI-General-Insurance

Over the years, SBI General Insurance has established its presence in 23000 branches of State Bank of India. Also, it has recently licensed 10 Regional Rural Banks in India. The current policy offerings by SBI General Insurance covers Motor Insurance, health insurance, Travel Insurance, Personal Accident and Home insurance.

Insurance Australia Group Limited is an international general insurance group, with operations in New Zealand, Australia, the United Kingdom and Asia. AIG’s businesses endorse over $11 billion of premium per annum, selling insurance under many leading brands.

As of June 2019, SBI General Insurance's overall market ranking was 13th among about 30 insurers. It recorded 32.83 per cent growth in gross written premiums in the financial year 2019 at ₹47.17 billion.

FY19-20, the SBI General Insurance registered 23.4 percent growth with a profit of ₹412 crores. Its revenue grew by 45 percent to reach ₹6,840 crore for the FY19-20.

As on 31 March 2021, SBI General Insurance is ranked 12th in the Industry.

SBI General Insurance Product Portfolio

SBI Health Insurance Plans

SBI Motor Insurance Plans

  • Two Wheeler insurance
  • Private car insurance
  • Motor Act Only- Two Wheeler(5 Years)
  • Long Term Two Wheeler Insurance Policy - Package
  • Motor Act Only- Private Car (3 Years)
  • Motor Trailer Insurance
  • Motor Commercial Vehicle Insurance Policy Package
  • Act Only Insurance Policy

SBI Home Insurance Plans

  • Bharat Griha Raksha

SBI Travel Insurance

  • Travel Insurance(Business and Holiday)

SBI Personal Accident Plans

  • Individual Personal Accident
  • Saral Suraksha Bima

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SBI General Corporate Insurance

  • Health Insurance
  • Construction and Engineering Insurance
  • Package Insurance
  • Marine Insurance
  • Fire insurance
  • Sign Board Insurance Policy
  • Modified National Agriculture Insurance Scheme (MNAIS)
  • Trade Credit Insurance Policy
  • Aviation & Hull Package Policy
  • SME Package Insurance Policy
  • Cellular Network Insurance Policy
  • Advance Loss of Profit Policy
  • Baggage Insurance Policy
  • Portable Electronic Equipment Insurance Policy
  • Weather Insurance
  • Mega Risk Insurance Policy
  • Port Package Insurance Policy
  • Delay in Start Up (DSU) Insurance
  • All Risk Insurance Policy
  • Kidnap, Ransom and Extortion (KRE) Insurance
  • Fidelity Guarantee Insurance Policy
  • Oil & Energy Risk Insurance

SBI General Rural Insurance

The experienced claim management team at SBI General Insurance aims to provide customers - fast, convenient and transparent claim process. With their best in class service, SBI General Insurance Company Limited is definitely prospering in their aspiration to become - the most reliable general insurance and to increase insurance penetration in India by implementing transparent and fair business practices.

Disclaimer:
All efforts have been made to ensure the information provided here is accurate. However, no guarantees are made regarding correctness of data. Please verify with scheme information document before making any investment.
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